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Published on : Wednesday, February 3, 2016
Flughafen Wien AG hereby announces the signing of a share purchase agreement to acquire SNC-Lavalin Group Inc.’s indirect stake in SNC-Lavalin (Malta) Limited (“SNCL Malta”), subject to the fulfilling of certain closing conditions by both parties. SNCL Malta has a 38.75% interest in Malta Mediterranean Link Consortium Limited (“MMLC”) which in turn has a 40% interest in Malta International Airport plc (“Malta Airport”). Upon reaching financial close, the total consolidated holding of Flughafen Wien AG in Malta Airport will be more than 48%.
The total value of the transaction amounts to approximately € 63 million, equivalent to € 3.00 per Malta Airport share, subject to working capital adjustments.
Since the privatisation of Malta Airport in 2002 Flughafen Wien AG has held a 57.1% stake in MMLC via its subsidiary VIE (Malta) Limited. Flughafen Wien AG also provides operating management for Malta Airport and directly holds a further 10.1% of the shares in Malta Airport through VIE (Malta) Limited. Before the transaction Flughafen Wien AG’s total direct and indirect holding in Malta Airport equalled in 32.94%.
By acquiring SNC-Lavalin Group Inc.’s indirect stake in MMLC, Flughafen Wien AG will increase its total indirect holding in Malta Airport by a further 15.5%. Thus, Flughafen Wien AG’s total consolidated holding in Malta Airport will reach more than 48%.
The precise structure of Flughafen Wien AG holdings in Malta Airport will be disclosed upon closing.
Source:- Vienna Airport
Tags: Vienna Airport